Zenith Bank Retains Position As Number One Bank In Nigeria By Tier-1 Capital For The 13th Year In A Row
Zenith Bank Plc has been ranked as the Number One Bank in Nigeria by Tier-1 Capital in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine. For the thirteenth consecutive year, the Bank retained its position as the number one Tier-1 bank in Nigeria with a Tier-1 Capital of $2.75 billion, emerging as the 460th Bank globally.
The ranking, which was published in the July 2022 edition of The Banker Magazine of the Financial Times Group, United Kingdom, was based on the 2021 year-end Tier-1 capital of banks globally. Zenith Bank’s financial performance for the year was underpinned by double-digit growth of 10% in gross earnings, with an improved market share in both retail and corporate sectors despite a very challenging macroeconomic environment aggravated by the COVID-19 pandemic.
Commenting on the 2022 Top 1000 World Banks Ranking, the Group Managing Director/CEO of Zenith Bank Plc, Mr. Ebenezer Onyeagwu, said: “This ranking is a testament to our resilience and doggedness as an institution despite economic headwinds and a persistent challenging macroeconomic environment. Indeed, being ranked as the Number One Bank in Nigeria by Tier-1 Capital for the thirteenth year in a row underscores our commitment to sustaining the superior performance we are renowned for and creating value for our highly esteemed customers.” He expressed his appreciation to the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CON, for his guidance and for laying the foundation and building the structures of an enduring and very successful institution; the Board for the outstanding leadership they provide; the staff, whose drive and commitment sustains the exceptional performance; and the Bank’s customers for their unflinching loyalty to the Zenith brand.
Tier 1 Capital describes capital adequacy, which is the core measure of a bank’s financial strength from a regulator’s point of view. According to the ranking, Tier 1 Capital, as deﬁned by the latest Bank for International Settlements (BIS) guidelines, includes loss-absorbing capital, i.e. common stock, disclosed reserves, retained earnings and minority interests in the equity of subsidiaries that are less than wholly owned.
Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, with this latest accolade coming on the heels of several recognitions, including being recognised as the Best Bank in Nigeria for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards; Best Commercial Bank, Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; Best in Corporate Governance ‘Financial Services’ Africa, for three consecutive years from 2020 to 2022, by the Ethical Boardroom; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards; and Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020.
Also, the Bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, and the Retail Bank of the year at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards 2020 and 2021.
Similarly, Zenith Bank was honoured as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020 and emerged winner in four categories at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021, carting home the awards for “Best Company in Reporting and Transparency”, “Best Company in Infrastructure Development”, “Best Company in Gender Equality and Women Empowerment”, and the coveted “Most Responsible Organisation in Africa.
Zenith Bank Refunds N3.23m To Angry Customer Chiamaka Agim
A leading Nigerian commercial bank, Zenith Bank has returned N3.23 million to Chiamaka Agim, a Lagos State resident whose N4.039 million was erroneously deducted on January 9.
According to reports, Zenith Bank had previously informed Agim that she would only receive N800,500 of the N4,039,900 that had been debited.
But on Monday, January 16, in the evening, the bank sent back N3,239,400.
Recently, the Zenith Bank client shared a post about the refund on her Twitter page.
Agim reported that on that Monday, the bank contacted her to provide an update on the refunded money.
“After the event, they had to put my account on pause, so I didn’t get any alerts,” the user said. I was told to visit the bank the next day,” she recalled.
“They had credited my account with N3,239,400 around 7.30 pm on Monday,” the customer said. “My account statement was printed when I got to the bank.”
She claimed to have discovered that Access, one of the two banks to which the funds were transferred, still held the remaining N800,500.
Zenith Bank stated that Access Bank is now withholding the funds and that it is not their fault at this time. They said Access Bank stated that the funds would not be released without a court order.
UBA Appoints Abiola Bawuah CEO,UBA Africa
The Board of Directors of the United Bank for Africa Plc has announced the appointment of Mrs. Abiola Bawuah, as Chief Executive Officer (CEO) of UBA Africa.
According to a statement y the bank, Bawuah will also join the Group Board as an Executive Director, overseeing the Group’s operations across the African continent, outside Nigeria.
Bawuah, a Ghanaian national, is the first female CEO of UBA Africa.
Prior to her appointment, she was Regional CEO, West Africa, supervising the Group’s operations in nine subsidiaries, including Benin, Burkina Faso, Cote d’Ivoire, Ghana, Guinea, Liberia, Mali, Senegal, and Sierra Leone. She previously held the role of CEO, UBA Ghana.
Speaking on the new appointment, the Group Board Chairman, Mr Tony O. Elumelu, said, “Abiola has contributed significantly to the growth of UBA Africa for close to a decade. She brings a wealth of experience in commercial banking, and stakeholder engagement. It also gives me great pleasure that with her appointment, the UBA Group Board has now become a majority female board.”
The UBA Group also announced other appointments.
Chris Ofikulu was appointed the Regional CEO of UBA West Africa.
A statement by the bank said Ofikulu has over two decades of banking experience spanning corporate, commercial, and retail banking.
Similarly, Uzoechina Molokwu was appointed as Deputy Managing Director (DMD) of UBA Ghana, subject to local regulatory approvals. He was previously the Executive Director, Business Development – UBA Côte d’Ivoire and has over 23 years banking experience.
Ayokunle Olajubu was also announced as the Managing Director/CEO UBA Liberia, subject to local regulatory approvals. He currently drives compliance across Africa subsidiaries and comes with 30 years banking experience in Nigeria and other African countries, including Sierra Leone, Cote D’Ivoire and the Gambia.
Other appointments include that of Theresa Henshaw who was appointed as CEO of UBA UK, subject to local regulatory approvals. She was previously the DMD, Business Development, UBA America and joined the Group as ED, Business Development at UBA UK.
Usman Isiaka, currently CEO, UBA Sierra Leone, has also been appointed the Deputy CEO in UBA America, subject to local regulatory approvals.
Adeyemi Adeleke, the former CEO of UBA, UK is now the Group Treasurer. Adeleke will be working to unlock the immense value in the Group’s multi-jurisdictional balance sheet, leveraging on its presence in 24 countries within and beyond Africa.
In addition to the executive appointments, UBA has announced the retirement of High Chief Samuel Oni, an independent non-executive Director, from the board following the expiration of his tenure. He joined the UBA Group in January 2015 and served on the Board of the Group for eight years.
The Group Chairman, Mr Elumelu, expressed his appreciation to High Chief Oni, for his commitment, leadership and extensive contributions to the UBA Group and on behalf of the Board, wishes him the very best in all his future endeavours.
News1 year ago
PLEASE HELP SAVE LITTLE AISHA’S LIFE
News2 years ago
GTBank Out With 2020 Full Year Audited Results…Reports PBT of ₦238.1 Billion
Business1 year ago
Fitch Affirms Ecobank Nigeria’s Stable Outlook
Entertainment7 months ago
Meet Upcoming US based Naija Female Entrepreneur, ABIGAIL JOSEPH. Talks About Her Fashion and Lifestyle
Business2 weeks ago
KOGI SEN (ECHOCHO) IN PUBLIC FIGHT -DISGRACED IN ANKPA LG
News12 months ago
SSANU Honours Kogi Politician, Abubakar Ibrahim
News1 year ago
“Save Our Souls From Bandit Sponsors, Land Grabbers in Police Uniform”- Oreki Villagers To IGP
Sports2 years ago
Egbe rallies support for Pinnick